Zheng Cotton Futures Increase In Warehouse Volume Period Price May Still Be Explored In The Near Future.

The domestic market: on Wednesday, the main contract of Zheng cotton increased its position, but the price was lower or weaker. The closing price was 12685, compared with the previous trading day -1.40%. The highest price was 12880, the lowest was 12630, the turnover was 418652, the position was 511466, +23876, and the difference between CF9-1 and 520 was +10.

Outward trend: ICE cotton futures fell slightly on Tuesday, pressing down the market due to demand worries, despite the decline in US crop ratings. The most active ICE12 month cotton contract fell 0.1 cents or 0.17%, and the settlement price was 59.14 cents per pound.

News: 1. According to the Association survey, according to the weighted average calculation of cotton planting area of cotton farmers surveyed, it is estimated that the total output of cotton in China will be 6 million 40 thousand tons, down 1.22% from the same period last year, a decrease of 20 thousand tons compared with the previous period and a 0.5 percentage point decline. 2. In August 21st, the sale of the cotton reserves was 11281.5308 tons, and the actual turnover was 10454.8208 tons, with a turnover rate of 92.67%. The average transaction price was 11799 yuan / ton, down 168 yuan / ton compared with the previous trading day.

On the spot side: the cotton index 3128B price is 13558, and the spot price remains unchanged the previous day; the cotton yarn price index C32S price is 21340, which is 10 down from the previous day's spot price. (unit: yuan / ton)

Warehouse Receipt Inventory: 12197 warehouse receipts, -102, warehouse receipt inventory reduction.

Position analysis: on the day of the Zheng cotton contract, there were 20 long positions in 247224 hands, +4973; short positions were 290104 hands, +2709; clear positions occupied an advantage.

Conclusion: ICE cotton futures fell more than 1% on Monday, ending the four day rally, because India cotton imports will be taxed. Domestic cotton Market: spot seed cotton prices are stable, approaching new cotton listing, most cotton mill purchase price is not as good as cotton farmers' psychological expectations. In terms of inventory, the inventory of industrial and commercial enterprises is still about 3 million 900 thousand tons, and in the process of carrying out the cotton spinning, the textile enterprises are buying and selling with the purchase, and the state-owned cotton stores with high cost performance are in the market. The turnover rate of the national cotton storage is over 9, and the phase is better than the cotton price. Downstream demand is still poor, but the recent Autumn and winter orders to factories, yarn demand increases, cotton enterprises to speed up or speed up. In recent years, a small amount of new seed cotton has been listed in Shandong and other places, and the price is low. Last year, the purchasing intention of the cotton mill was weaker, forming a certain pressure on cotton price. Technically, the CF2001 contract short and average line system is in horizontal consolidation, and the KDJ index continues to turn weak. On the operation, it is suggested that the 2001 contract of Zhengzheng cotton should wait for a while.